The CBOT opened with short covering driving SRW wheat and soyoil higher. Corn and soybeans were lower as weaker energies highlighted ethanol demand risk and liquidation trade developed in soybeans. U.S. stocks opened lower and the Dow posted a 500+ point loss before rallying in the afternoon. Crude oil futures followed a similar pattern and were up 2 percent by the close. The Export Inspections report saw shipments of corn, wheat, and soybeans all fall below trade estimates. WPI’s interpretation is that the report was bearish corn as exports missed their needed volume by 15 mbu. Wheat shipments were slightly bearish with the weekly figure below what is needed to keep pace with USDA’s forecast, but given that it is only th...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.